There’s never enough money, is there? Lately you’ve been stretching your training budget dollar so much that old George looks like he’s had a couple of facelifts.

Would it help to know that you’re likely not the only one trying to balance red and black? In 2016, half of U.S. companies’ training budgets remained the same as the previous year’s, according to Training Magazine’s 2016 Training Industry Report. Meanwhile, 37 percent of companies said their budgets increased, and 13 percent reported a decrease.

The same report showed that training expenses have essentially stayed flat. Last year, expenses were about $70.65 billion, almost matching spending in 2015, about $70.6 billion. Those figures include internal design and delivery costs, salaries for talent development staff, and spending on external products and services.

The problem is, as the old saying goes, “You gotta spend money to make money.” Accordingly, you’ve revised your employee onboarding budget to spend more than you did last year, and it’s long overdue.

So how do you get that larger onboarding and training budget approved?

Getting the OK seems like a long shot; asking for more money is always an uphill battle. By sticking to the following tips, you can soften the blow to your organization’s executives when you present your budget. The result? More dollars in your department coffers.

Explain the problem and solution in numbers

Your decision makers want data. They want to know what’s in it for the organization and feel confident they’re getting a solid ROI. To that end, you’ll need numbers that justify the additional expense in training. Executives are especially interested in the following:

Summarize the general benefits of training

Give your company’s executive team a recap of what’s in it for the organization. Why should they allocate more dollars to something that’s been working just fine? Your task is to remind them of the benefits of training:

More details on these benefits can be found here.

Stop stretching that dollar more than you have to. Take a careful look at your needs, revise your budget, and prepare for your presentation by collecting the numbers and recapping the benefits of training. Reap the rewards of money well spent.

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